3 Top Crypto To Buy Instead Of XRP As Ripple Vs. SEC Lawsuit Intensifies
XRP price has shown immense stability at a time when the lawsuit between its issuing company Ripple and the Securities and Exchange Commission (SEC) intensified ahead of the homestretch. On April 22, Ripple’s legal team in its response argued against the SEC’s proposed $2 billion penalty instead proposing a cap at $10 million. With the case entering a critical stage for the price of XRP, investors may want to shift their attention to other crypto to buy with the potential to rally during the bull run in 2024.
1. Shiba Inu Coin: Emerging A Top Crypto To Buy
Shiba Inu Coin price performance has in the last several weeks suffered a great deal recording a significant drop from $0.00004563 — the 2024 high and testing $0.00002 support.
The decline, however, reflects the general outlook of the crypto market, with the downturn in prices across the board. Amid the geopolitical tensions in West Asia, Bitcoin peaked above $70,000 again before plummeting to $60,000 in April.
In the wake of the Bitcoin halving, investors are looking forward to a supply disruption followed by a parabolic rally likely to impact the rest of the crypto market toward the end of the year.
Traders looking out for further price increases in Shiba Inu, which has recovered from April’s lows around $0.00002 to $0.000078, may want to know about the immediate support in the grey band, as shown on the chart.
The key levels for traders to watch in the short term are the potential breakout above the resistance trend line (black) and the formation of new support above $0.000028. Key targets in the short-term to medium-term are the yellow band at $0.00003, the red band at $0.000032, and the higher resistance at $0.000036.
2. Solana (SOL)
Solana (SOL) is a high-performance blockchain supporting decentralized applications and cryptocurrencies. It’s renowned for its exceptional transaction speeds and scalability, attributed to its unique proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) mechanism.
After a recent downturn, Solana’s SOL token has made a strong recovery from a low of $116, bouncing back from the 50% Fibonacci retracement level. The asset experienced a robust 33% surge, now trading at $155. With this positive momentum, Solana’s market capitalization has climbed to $69.3 billion, sustaining its position as the fifth-largest cryptocurrency by market cap.
Currently, Solana price is poised to test the immediate resistance level at $162, with market sentiment skewed in favor of the bulls for a potential higher climb. If the upward trend persists, we could see a 30% increase from the current levels, which would bring Solana to retest its 2024 peak of $210.
1. Gala (GALA)
Gala (GALA), the primary cryptocurrency of Gala Games, is essential for acquiring NFT items. It compensates founders’ node operators for their participation, with GALA fueling the blockchain’s transaction fees. The system distributes GALA, splitting it equally between node operators and the Gala Games conservatorship.
Over the past week, GALA’s value has surged by more than 15%, showing a strong upward trend. This suggests that GALA, a small-cap altcoin, could potentially achieve a 50X increase after its upcoming halving event. Currently, GALA price is at $0.04847, and it has experienced a slight decrease of 1% in the last 24 hours. It ranks 64th on CoinMarketCap with a market capitalization of $1.4 billion.
Bottom Line
The crypto market is getting ready for an unprecedented rally impacted by the recent Bitcoin halving. Although this parabolic surge is expected to start with BTC price, altcoins tend to rally along with it hence the need to carefully select the crypto to buy for the best-performing crypto portfolio. Tokens like Shiba Inu (SHIB), GALA and Solana (SOL) have shown immense potential in the past by rallying when BTC moves, hence the need to highlight them in this article.
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